The spread between German Bunds and Italian BTPs appears completely out of control and continues to grind record after record. After yesterday's record of 226 basis points, this morning the differential on ten-year bonds reached 228, before rising to 234 and again to 245,3. The yield on government bonds has come to exceed 5 percentage points. Italy is in the eye of the storm of speculation, a moment of crisis that can be explained from different points of view.
Not only the continuous tension on the debt risks of the peripheral countries of the euro area, but also the negative data on the industry of our country, which are accompanied by the strengthening of Germany. This morning Istat highlighted a weaker than expected trend for our industrial production in May, which recorded a decrease of 0,6% from the previous month. On the contrary, solid data continue to arrive from Germany: today it is the turn of exports, which grew by 4,3% in May. Positive data on industrial production and orders have also been published in recent days.
